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Letter from the AICPA Tax Executive Committee Chair: Embracing Uncertainties - The Reality (and Excitement) of Tax Work

The tax world is constantly plagued with uncertainties. Temporary rules are a standard feature of federal and state tax systems, and create uncertainty as to their extension or eventual passage into permanence. Because of laws that are often vague or incomplete, we cannot always answer client questions at a high-confidence level about whether a business activity creates nexus in a state, or whether a worker is defined as a contractor for tax purposes. Many transactions don’t fit comfortably within laws that are often out of date.   Unfortunately, the list of uncertainties is growing for tax practitioners